‘He Needs to Own This’: Donald Trump’s Tariff Meltdown Is Far from Over

Donald Trump swept back into office in November, winning every swing state and doing better with nearly every demographic group than he did when he lost to Joe Biden in 2020.

Trump managed to assemble a coalition that looked very different from the ones he put together during his first two presidential runs.

But it was also a coalition full of contradictions.

In 2024, Trump appealed to the business elite, and also to the working class. He told different things to Jewish Americans and Arab Americans and did well with both. He appealed to the Christian right, and also to the young men known as “podcast bros.”

That worked within the context of an election. But once Trump had to govern, it was clear that he would have to make choices, that were going to leave some people unhappy. And that appears to have happened this week with tariffs.

In fact, he needs to own his mistakes.

A Tariff Flop-Flop for Donald Trump

On Wednesday, likely due to fears about a bond market sell-off, Trump announced a retreat on most of his tariff plans, which he had announced a week earlier on what he called “Liberation Day.”

While Trump raised tariffs on China and kept an across-the-board 10 percent tariff in place, he announced a 90-day pause on most of the other tariffs that had been announced for non-China countries.

Following the announcement, the stock market, which had multiple 1,000-point drops in the previous weeks, had its best day since 2001, although the market gave some of those gains back after the opening bell on Thursday.

However, the China tariffs remain in place, which seems likely to cause prices to rise in a way that consumers will notice.

We’re likely to do this all again when the 90-day pause expires in July- unless Trump pauses the tariffs again. And if he does, where does his leverage go?

Whither the Coalition?

A Vox analysis, published earlier this week before the pause, predicted that Trump’s tariff gambit runs the risk of tearing apart that historical coalition. And not only because Trump won in large part due to rising inflation, and the tariffs — including the ones on China that remain in place — seem likely to send prices rising further.

The tariff policies, per Vox, are highly unpopular among the specific demographics that swung towards Trump in 2024. Polling also shows that Trump is bleeding support among voters who may have voted for him, but do not consider themselves part of the MAGA base.

The Polls Aren’t Great

According to the RealClearPolling average, Trump’s average approval rating as of April 9 was 47 percent, compared to a disapproval rating of 50.2 percent, although that covered polls almost entirely before the tariff switch on Wednesday. The spread is wide, with a recent Daily Mail poll showing Trump with an approval spread of plus-6, but a Quinnipiac poll showing the spread for the president at negative-12.

A new Economist/YouGov Poll, released Wednesday, showed Trump is unpopular on the economy in particular. That poll shows 51 percent of respondents disapproving of Trump’s overall performance and 43 percent approving. When he took office slightly less than three months ago, Trump had an approval rating of 49 percent, which was more popular than he was at any point in his first term.

On the economy, though, 51 percent of those asked “disapprove of Trump’s handling of the economy,” while 55 percent “disapprove of Trump’s handling of prices and inflation,” including 19 percent of those who voted for him in 2024. There’s also a negative 18 spread on Trump’s handling of “foreign trade,” while the tariffs themselves have a negative 16 rating.

And that says a lot: According to the New York Times, it was the worries about the bond market and calls from business leaders, that caused Trump to act and reverse himself on tariffs- not the polls showing that Americans, including his own supporters, weren’t on board.

About the Author: Stephen Silver

Stephen Silver is an award-winning journalist, essayist and film critic, and contributor to the Philadelphia Inquirer, the Jewish Telegraphic Agency, Broad Street Review and Splice Today. The co-founder of the Philadelphia Film Critics Circle, Stephen lives in suburban Philadelphia with his wife and two sons. For over a decade, Stephen has authored thousands of articles that focus on politics, technology, and the economy. Follow him on X (formerly Twitter) at @StephenSilver, and subscribe to his Substack newsletter.